The company's adjusted trial balance as follows includes the following accounts balances: Cash, $15,000; Equipment, $85,000; Accumulated Depreciation, $25,000; Accounts Payable, $10,000; Retained earnings, $59,000; Dividends, $2,000; Fees Earned, $56,000; Depreciation Expense, $25,000; and Salaries Expense, $23,000. All accounts have normal balances. Prepare the first closing entry by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns. Date General Journal Debit Credit Dec. 31

College Accounting (Book Only): A Career Approach
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Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 2PB: The balances of the ledger accounts of Pelango Furniture as of December 31, the end of its fiscal...
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The company's adjusted trial balance as follows includes the following accounts balances: Cash, $15,000; Equipment, $85,000;
Accumulated Depreciation, $25,000; Accounts Payable, $10,000; Retained earnings, $59,000; Dividends, $2,000; Fees Earned,
$56,000; Depreciation Expense, $25,000; and Salaries Expense, $23,000. All accounts have normal balances.
Prepare the first closing entry by selecting the account names from the pull-down menus and entering dollar amounts in the debit and
credit columns.
Transcribed Image Text:The company's adjusted trial balance as follows includes the following accounts balances: Cash, $15,000; Equipment, $85,000; Accumulated Depreciation, $25,000; Accounts Payable, $10,000; Retained earnings, $59,000; Dividends, $2,000; Fees Earned, $56,000; Depreciation Expense, $25,000; and Salaries Expense, $23,000. All accounts have normal balances. Prepare the first closing entry by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns.
Date
General Journal
Debit
Credit
Dec. 31
Transcribed Image Text:Date General Journal Debit Credit Dec. 31
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